Opus Global unit to acquire controlling stake in DM-KER
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Listed holding company Opus Global on Tuesday said its unit Meszaros M1 made a binding offer to acquire, in a series of steps, majority ownership in DM-KER, a listed company that sells, rents and services construction and farm machinery, according to a report by state news wire MTI.
Opus noted that the offer is "not a public purchase offer", rather Mészáros M1 "intends to enter into a share purchase agreement and several option agreements with the majority owners of DM-KER in the near future".
With the acquisition, Mészáros M1 aims to manage the construction equipment used by the Mészáros Group "with maximum efficiency", Opus said, adding that the transaction could also "make a major contribution to the success" of Meszaros M1 on international markets.
DM-KER's shares started trade on the Budapest Stock Exchange a little more than year ago. The company's board postponed a planned IPO last November.
In January, Mészáros M1 signed an MoU on strategic cooperation with DM-KER.
Last year, DM-KER had turnover of more than HUF 11.5 billion and EBITDA exceeding HUF 800 million.
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